by Price Cuts, Drug Launch Gain Prominence amid COVID-19 Pandemic
During the peak of the coronavirus outbreak amid the second wave in India, there had been an unprecedented demand for Remdesivir – an antiviral medication for the treatment of patients. Due to shortage in the supply of Remdesivir, companies in the generic injectables market such as Hetero Drugs, an Indian pharmaceutical company and one of world’s largest producer of anti-retroviral drugs, released its generic form of Remdesivir called Covifor.
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Manufacturers in the generic injectables market are becoming future-ready by maintaining adequate supply chains to prevent vulnerabilities caused by potential COVID-19-like situations. Drug firms including Zydus Cadila are observed to significantly reduce the price of its generic version of Remdesivir namely Remdac. Companies are taking the advantage of government programs and financial schemes offered by the BFSI sector to streamline their business activities as per the volatile market sentiments.
Challenges Posed by Syringe Inspection Affect Market Growth
Syringes are among the most difficult containers to inspect. With the largest vaccination effort in human history, challenges posed by syringe inspection become especially relevant while considering the ever-growing adoption of injectable drugs. These findings have led to the need of sophisticated inspection systems to help manufacturers address not only the coronavirus pandemic but also various other maladies.
While other containers such as cartridges, vials, and ampoules largely stand still and can enter the inspection process independently, syringes are typically carried via conveyor and then turned upside down. This has resulted in the need for robust inspection systems so that any hidden particles in the funnel can sink down into the liquid for increased inspection detectability
Manufacturers Expand Revenue Streams in Routine, Complex Injectable Products
The global generic injectables market is projected to clock a CAGR of 12.3% during the forecast period. Biological E Limited – an Indian biotechnology and biopharmaceutical company based in Hyderabad, Telangana, is gaining recognition for broadening its portfolio in 20 routine and complex injectable products. In order to establish stable revenue streams, companies are tapping into regulated markets and exploring other markets to generate income sources.
There is a growing demand for specialty generic injectables packaged in glass vials. Express Pharma in associated with West Pharma recently conducted a webinar to understand why emerging generic injectable manufacturers need flexibility and simplicity when dealing with drug delivery and containment.
FDA-approved Generic for Hypoglycemia Indicated for Radiologic Examination of Stomach
The generic injectables market is expected to cross US$ 307.7 Bn by 2031. The U.S. FDA (Food and Drug Administration) has approved the first generic of glucagon for injection USP for the treatment of severe hypoglycemia, which may occur in patients with diabetes mellitus. The drug has potentials as a diagnostic aid in the radiologic examination of the stomach, duodenum, small bowel, and colon in cases when diminished intestinal motility would be advantageous.
Companies in the generic injectables market are increasing their research to develop products meant for oncology and cardiology in order to expand their income sources.
Analysts’ Viewpoint
Apart from drug launches and price cuts, stakeholders in the generic injectables market are conducting webinars to understand how manufacturers are combating COVID-19 with the help of flexibility and simplicity during drug containment and delivery. Sun Pharmaceutical Industries Limited— an Indian multinational pharmaceutical company headquartered in Mumbai, India, is being publicized for its high quality generic and branded injectables available at affordable costs worldwide. However, syringes are among the most difficult containers to inspect and require handling protocols that are different from other primary packaging types. Stakeholders in the generic injectables market should adopt sophisticated inspection systems for gentle handling of syringes and avoiding glass-to-glass contact, which mitigates the likelihood of cracks or breakage.
Generic Injectables Market: Overview
This report analyzes the current scenario and future prospects of the global generic injectables market. Rise in prevalence of various diseases such as cancer, diabetes, and cardiac across the world, increase in demand for generic injectables, and surge in the geriatric patient pool are the key factors projected to drive the global generic injectables market during the forecast period.
The report provides an elaborate executive summary, including a snapshot of various segments of the global generic injectables market. It also provides elaborate information and data analysis of the global generic injectables market about segments based on product type, application, container type, route of administration, and region.
The overview section of the report provides a detailed qualitative analysis of drivers and restraints, and opportunities that impact the global generic injectables market
Additionally, the report includes company profiles which provide information about their business, product portfolios, and competitive landscape in the global generic injectables market
The report on the global generic injectables market offers market attractiveness analysis of the regions and segments
The last section of the report comprises quantitative and qualitative analysis on market share/position of key players operating in the global generic injectables market. It analyzes the key competitive strategies adopted by the major industry players, thereby presenting a thorough understanding of the competitive scenario in the global generic injectables market.
Generic Injectables Market: Key Segments
In terms of product type, the global generic injectables market has been bifurcated into large molecule injectables and small molecule injectables. The large molecule injectables segment held major share of the global generic injectables market in 2020, and the trend is anticipated to continue during the forecast period.
Based on application, the global generic injectables market has been classified into oncology, infectious diseases, cardiology, diabetes, immunology, and others. The oncology segment accounted for major share of the market in 2020.
In terms of container type, the global generic injectables market has been categorized into vials, premix, prefilled syringes, ampoules, and others
Based on route of administration, the global generic injectables market has been divided into intravenous, intramuscular, subcutaneous, and others
The market value and forecast for each of these segments have been provided from 2017 to 2031. The CAGRs of respective segments have also been provided from 2021 to 2031, considering 2017 to 2019 as the historical years and 2020 as base year.
Generic Injectables Market: Regional Outlook
In terms of region, the global generic injectables market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
The generic injectables market report provides value and forecast for each region and country/sub-region from 2017 to 2031. The compound annual growth rates (CAGRs) for each of these regions and countries have also been provided for the forecast period from 2021 to 2031. The generic injectables market study also covers the competitive scenario in these regions.
Companies Mentioned in Report
Key players in the global generic injectables market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
Major companies profiled in the global generic injectables market report are
- AstraZeneca
- Baxter International, Inc.
- Biocon
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals plc
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Merck KGaA
- Mylan N.V.
- Novartis AG (Sandoz International GmbH)
- Pfizer, Inc.
- Piramal Pharma Solutions
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
Key Questions Answered in Generic Injectables Market Report
- What are the major drivers, restraints, and opportunities in the market?
- What will be the revenue share projections of key segments in the global generic injectables market during the forecast period?
- Which segment is likely to lead the global generic injectables market in terms of revenue by 2031?
- How mergers & acquisitions among players are widening the scope of the global generic injectables market?
- Which are the leading companies in the global generic injectables market?
Generic Injectables Market – Segmentation
Product Type
- Large Molecule Injectables
- Small Molecule Injectables
Application
- Oncology
- Infectious Diseases
- Cardiology
- Diabetes
- Immunology
- Others
Container Type
- Vials
- Premix
- Prefilled Syringes
- Ampoules
- Others
Route of Administration
- Intravenous
- Intramuscular
- Subcutaneous
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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